Van Goe produces paints. On January 1, it had no work-in-process inventory. It starts production...


Van Goe produces paints. On January 1, it had no work-in-process inventory. It starts production of300,000 gallons of paint in January and completes 240,000 gallons. The costs of the resources usedby Van Goe in January consist of the following:Materials . . . . . . . . . . . . . . . . . . . . . . . . . . $328,800Conversion costs (labor and overhead) . . 420,000RequiredThe production supervisor estimates that the ending work in process is 80 percent complete. Computethe cost of paint transferred to fi nished goods and the amount in work-in-process endinginventory as of January 31.

 
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